Share market softer at Noon

AAP General News (Australia)
08-28-2007
Share market softer at Noon
INDEX MOVEMENT POSITION INDEX MOVEMENT POSITION
S&P/ASX200 -24.4 6160.8 Dow Jones -56.74 13322.13
All Ords -23.7 6161.2 S&P 500 -12.58 1466.79
SPI contract -35.0 6155.0 Nasdaq -15.44 2561.25
Gold $USoz -1.00 666.80 Nikkei +30.67 16332.06
$A/USD -.0079 0.8247 NZSE-50 +6.574 4091.009

PERTH, Aug 28 AAP - The Australian sharemarket was lower at noon following a soft lead
from Wall Street overnight.

At 1144 AEST, the benchmark S&P/ASX200 index was down 24.4 points to 6160.8 and the
all ordinaries had lost 23.7 points to 6161.2.

On the Sydney Futures Exchange, the September share price index contract slipped 35
points to 6155 on a volume of 7,572 contracts.

CMC Markets senior dealer Josh Whiting said company reports due this week would set
the tone for the market for the remainder of the week.

"If nervousness out of the US continues, that bullish sentiment from earnings is likely
to be offset. We might have a fairly flat week," Mr Whiting said.

"The market is a little softer today, although not dramatically.

"The banks are marginally softer after financial stocks were weaker in the US on a
small renewal of the housing sector problems overnight, which saw the Dow close down about
50 points."

Companies reporting strong earnings today included Foster's Group, which was up 39
cents to $6.39 at 1147 AEST, Woolworths, which built on the rally that started yesterday,
gaining 37 cents to $28.56, and QBE Insurance Group, up 37 cents to $33.28.

The Dow Jones industrial average was down 56.74 points at 13,322.13 and the Standard
& Poor's 500 Index was down 12.58 points at 1,466.79.

The Nasdaq Composite Index was down 15.44 points at 2,561.25

On the local market, shares in BHP Billiton shed six cents to $37.51 at 1141 AEST and
Rio Tinto dipped 38 cents to $91.35.

The big banks all were down with ANZ losing 24 cents to $29.33, the Commonwealth Bank
shedding 32 cents to $54.88, NAB losing 32 cents to $39.85, and Westpac dropping 26 cents
to $26.79.

Stock Move Price

AMP -0.020 10.280

ANZ Bank -0.260 29.310

BHPBilton -0.210 37.360

CBA -0.450 54.750

NAB -0.380 39.790

NewsCorp -0.090 26.760

Rio Tinto -0.440 91.290

TelstraCp -0.060 4.310

WestpacBk -0.350 26.700

Woolwrths +0.260 28.450

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KEYWORD: AUST STOCKS NOON

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